Here we will be talking about if SLV (paper silver will crack $20 before the end of the year. Today SLV was off to a slow chart but finished fairly strong on the daily chart and closed the gaps on the yearly chart as you can see in the 2nd image.

With SLV we will be watching for 17.47 to hold, followed by 17.25 and 16.95 supports. SLV might find some resistance at 17.99, 18.29 and 18.51 so we will be watching those levels to see if it breaks through or gets rejected. If rejected it will probably go lower. Right now, silver futures are down 1.73% at 9pm but it’s still early and has time to come back. If futures stay down here, then it’s a good indicator that SLV will follow lower. Currently SLV has a bullish MACD and bullish volume price trend with above 20 day moving average volume.

Walking Liberty 1/10 Oz Silver Rounds – $2.13
from: Money Metals Exchange

So, can SLV crack $20 by the end of the year? sure it can, but it can also drop lower. We believe a lot of the money movements currently are fear driven with Russia Ukraine, EUROPE banking issues, Debt crisis as well as the Feds increasing rates to try and defuse inflation. However, every time the Fed raises rates stocks continue their downward spiral. America also has elections looming in November. We have been thinking what happens if the Fed cuts rates back to zero. Though inflation would continue to grow it would be masked by the stock market soaring to previous highs. Is it possible? Maybe, but highly unlikely. Let’s also not forget the Fed needs to offload the remaining 9 trillion on its balance sheet. (How are they going to exit if nobody is buying).

Silver American Eagle (BU) – $18.89
from: Money Metals Exchange

Physical metals:

We have noticed a massive inflow of Physical precious metals buying. Ebay premiums have skyrocketed, and many dealers are out of stock or with 2-week delays. We personally prefer the physical silver over paper silver (physical metals is far less manipulated which you can read about here.)

Disclaimer:

We are not financial advisors and everything Herin is our opinion. please consult an investment advisor before trading stocks as you may lose your entire investment.